At Extra Space, we believe that part of doing well is acting as good corporate citizens and running a company that is built to last. With a focus on the future, we plan to benefit our stakeholders today as well as over the long term. We do so by taking care of our customers, our employees, and our real estate holdings and by reducing our overall impact on the environment. We achieve our goals through our ongoing efforts to improve the sustainability of our operations through environmental, social and governance best practices and initiatives. Additional information about ESG is outlined below and more on sustainability and corporate governance can be found here.

Environmental

As a public REIT and owner and manager of real estate, we are not only stewards of our shareholders’ capital, but also of our environment. As stewards, we seek to reduce our carbon impact. We do this through energy-saving initiatives such as installing solar panels, retrofitting properties with high-efficiency lighting systems, installing motion activated systems to turn lights on and off automatically and replacing older fixtures with modern energy-saving fixtures and bulbs. We also sell packing supplies made of recycled materials.

Energy highlights for 2018 include:

• Completed solar installation projects at 80 of our stores in 2018
• 41% of REIT owned locations now have solar panels
• Generated 21.4 MWh’s through on-site solar panels, enough to offset 3,213 passenger vehicles driven for one year, 16.5 million pounds of coal burned or 35,036 barrels of oil consumed
• All REIT owned locations' lighting systems upgraded to LED or T-8 specification
• 4.7% reduction in total waste disposed of by our facilities, while increasing property count 11%
• Diverted 12% of total 2018 waste to recycling centers

Social

Our greatest asset is our people. We strongly believe in training and retaining talented employees and having management at all levels engage with our employees, our customers, our board and other stakeholders. At Extra Space Storage, we believe that if we take care of our employees, they will take care of our customers and our facilities. We do so by focusing on employee engagement, wellness and safety.

Social highlights for 2018 include:

• Glassdoor Employees’ Choice Award – Best Places to Work. Extra Space ranked number 73 out of over 700,000 companies on Glassdoor.
• Utah Business Magazine’s Best Companies to Work for Winner
• Received a 73% response rate and engagement score of 85 out of 100 on most recent annual employee engagement survey.
• 75% participation in employee health and well-being screenings and surveys
• Paid time off given to employees to volunteer in their communities

Governance

We are committed to strong corporate governance to promote the long-term interests of our stockholders, strengthen management accountability and help maintain public trust in Extra Space Storage. We encourage open communication and positive working relationships among the members of our board. Our directors have access to, and regularly meet with, senior management and other employees. We actively seek input from our stockholders through our stockholder engagement programs and regular meetings with management.

Corporate governance highlights include:

• Lead Independent Director of our board, and independent director-led Audit and CNG Committees
• Separate Chairman and Chief Executive Officer
• 29% of our directors are female
• Annual advisory vote to approve executive compensation
• Anti-pledging policy for officers and directors
• Stockholder ability to amend bylaws
• Proxy access provision in bylaws
• Whistleblowing and whistleblower protection policy
• Data protection and privacy policy
• Code of Business Conduct & Ethics which is signed by all employees
• Non-staggered board